We see billionaires and we automatically assume we know all about them. We concoct a generic origin story for all of them. The complete details of their lifestyles have been the stuff of stereotype for years. But if you really think about it, we don’t really know anything about these people except for the facts that they choose to share with us. So here are a few exclusive insider fun-facts about the filthy rich for you to ponder on.
Not all of them invest in the stock market. When you think “billionaire” you immediately picture out a snobbish guy in a custom tailored suit strutting his stuff around Wall Street. But that isn’t always the case. In fact, only those billionaires who have already made names for themselves and have ridiculously large sums of money are fond of investing in stocks. The rest of the billionaires actually owe their riches to those billion-dollar ideas that they acted on generating the empires that they have today.
Yes, the extra million bucks does add to the family drama. This doesn’t really come as a shocker, though. Family feuds are practically normal in the average household, what more for those families with trust funds and things like that getting in the way. What we average families do when in the middle of a brawl is give each other the silent treatment. But for these families, they settle their disputes in court. That’s probably what happens when you fight over a few million (or even billion) dollars.
They can never be too rich. While the rest of the world is suffering from unemployment and recessions, the rich aren’t at all affected. Yearly they just continue to get richer and richer. They have their numerous investments and their high-valued properties to thank for that. So while the rest of us complain endlessly about the government just sucking out our income, the rich are out there in their million-dollar yachts sipping champagne. It’s not really their fault that they’re rich, right?
They avoid divorce lawyers like the plague. If there’s one thing that scares the society’s high-born, it’s the suit-clad divorce lawyers. Divorce is a nasty business for anyone. But it’s significantly magnified for the rich people. You see, most of the mega billionaires are actually very private people; you may not have even heard of a few of them. But when undergoing divorce proceeding, they would basically be compelled to air-out their dirty laundry. And they definitely wouldn’t like that. So what they do is they just try to avoid divorce or any other legal bind for that matter.
It’s a testosterone-filled arena. Although women have been significantly active in society, it’s still an overwhelming fact that majority of the world’s billionaires are men. But a few females on the list is better than no females at all. Who knows? In the next decade or so, more women might actually make it to the list.
The times are changing, and so are they. Traditionally, you’d expect that these billion-dollar empires would be passed over to the rich people’s offspring – the heirs to the wealth. But there are a growing number of billionaires who have opted to deviate from this set-up. There is this thing called the “Giving Pledge”. It’s a sort of campaign for the rich who want to give majority of their wealth to the needy.
They are actually pretty smart. We’d think that these rich people have no need to further their education because of their clear advantage in life. Well, that’s actually not the case. Most of the most educated belong to the upper class because they can afford high-end education. Masters of more than one foreign language, trained in business tactics and politics – now that’s some money well spent.
Taxes become a touchy subject. You often hear the words “tax evasion” being one of the most common run-ins with the law for these billionaires. But it’s not actually evading; it’s more on avoiding. It is no secret that they own really expensive properties. So they try to avoid having to pay for the huge taxes that go along with it.
They are actually relatively cheap. For someone who earns even a net income of, say, $1 billion a year, buying a $8,000 watch is considered thrifty. That’s basically change to what they earn. Conversely, they can also choose to spend big. But at the end of the day, that doesn’t even leave a dent to the continuous flow of income that they are enjoying.
There will always be someone richer. If you stand next to someone who earns around a million a year, you’d feel rather intimidated, to put it lightly. But that same person is relatively average to those billion earning ultra-billionaires out there; and yes, they do actually exist. So it doesn’t matter if you have a million, because someone else’s got a billion.
by: Jeffrey Slayter